Michael Saylor has spent nearly $50 billion over the last 5 years buying Bitcoin, and now he’s sitting underwater.
Adjusted for inflation, he’s down around $10 billion.
The bigger issue is that a large part of these BTC purchases were made using borrowed money and that debt has to be paid back. This is where things can get very messy, very fast.
I talked about this more than a month ago and warned about the risks. People like this create centralization, which goes against Bitcoin’s original purpose.
When leverage and concentration build up too much, the system becomes fragile.
I’ll keep you updated over the next few months.
And when I start buying Bitcoin again, I’ll say it here publicly.
A lot of people are going to regret ignoring these warnings.
Tokenization is heating up, but Grayscale’s research head Zach Pandl says it’s not a single trade — it’s a multi-phase play. Right now, tokenized assets sit at just $27 billion, but BCG and Ripple project that could explode to $19 trillion by 2033.
Institutions are already paying attention, especially to stablecoins and tokenization, but they’re still figuring out where to put their capital. Pandl sees this unfolding in stages, with different winners at each step.
In the early phase, he expects institution-focused, permissioned networks to lead. Canton Network (CC), backed by Wall Street giants like Goldman Sachs and Nasdaq, could be a near-term winner. It’s a more traditional finance-friendly approach — a “slightly upgraded version” of today’s system.
Later, hybrid models could emerge, with networks like Avalanche (AVAX) offering sovereign corporate chains connected to a main layer-1. Ethereum (ETH) is the long-game bet for a fully decentralized future, but Pandl warns the tech and institutions aren’t ready yet.
Picks-and-shovels plays like Chainlink could also benefit, as they provide chain-agnostic services that may be even more compelling than some blockchains.
Strategy's STRC keeps dividend payout steady at 11.5% after seven straight increases
Strategy's STRC, the world's largest publicly traded Bitcoin holder, has held its 11.5% dividend rate steady for the first time since launching in July 2025. This comes after seven consecutive dividend increases, with the volume-weighted average price (VWAP) for the month reaching $99.95, keeping shares close to their $100 par value.
STRC is marketed as a short-duration, high-yield savings alternative, paying monthly cash distributions. The dividend rate is adjusted monthly to support trading near par and limit price volatility. During Tuesday's session, STRC held close to par for most of the day, and it took 12 days for the shares to recover back to par following the ex-dividend date. Shares are likely to continue trading near par over the next two weeks, leading up to the April 14 ex-dividend date.
Meanwhile, Strive's SATA, another bitcoin treasury asset manager, reached $100 par for the first time, enabling the company to issue shares through its at-the-market (ATM) program to fund additional bitcoin purchases. SATA currently offers a dividend rate of 12.7%. This steady performance and strategic positioning of STRC and SATA highlight the growing importance of bitcoin treasury assets in the market.
Australia just passed its first major crypto law, and it's a big deal for the market. The new rule forces exchanges and custody providers to get a financial services license before operating. This means firms like Kraken and OKX will now be held to the same standards as brokers or fund managers—think asset protection, clear disclosures, and dispute systems.
This isn't about regulating crypto itself—it's about regulating the companies that hold your funds. The goal? Cut down on risks like fund commingling, insolvency, and asset misuse that have burned traders in past crashes.
For the market, this could mean more institutional money flowing in. Clearer rules give big players confidence to invest and expand locally. Some estimates say Australia could unlock up to A$24 billion a year from tokenized markets—if the framework works.
Short term, expect more compliance costs for Aussie exchanges. Long term, this could make Australia a safer, more attractive hub for crypto growth.
The Uniswap Foundation is sitting on $85.8 million in assets, with $49.9 million in cash and stablecoins, plus 15.1 million $UNI tokens and 240 ETH. That’s a strong balance sheet for supporting the ecosystem.
In 2025, the foundation committed $26 million in new grants and paid out $11 million from earlier rounds. Q4 alone saw $5.8 million in fresh commitments and $2.1 million disbursed. Total operating costs hit $9.7 million, not counting 450,000 $UNI in employee token awards.
Revenue came from the Uniswap Treasury under the Unleashed proposal—20.3 million $UNI worth around $114 million—plus $1.7 million in fiat interest. With $106.2 million reserved for grants and $26.3 million for operations, the runway extends to early 2027.
This report comes after the UNIfication governance vote in December, which created a new legal entity called DUNI and restructured the foundation’s role. With Uniswap v4 and Unichain launching in 2025, the foundation’s war chest could fuel more innovation—if deployed wisely.
Options market data shows traders are paying more for downside protection on Bitcoin than Ether right now.
The risk reversal metric is negative for both assets, but BTC puts are more expensive across all timeframes. That means institutional players see bigger potential drops in Bitcoin.
Longer-dated Ether options show only mild bearishness, while Bitcoin's equivalent contracts price in much deeper downside risk.
This suggests the market expects Ether to hold up better than Bitcoin in the near term. A break above $68,680 on BTC could change that momentum.
$BTC is up 3.34% to $68,622, while $ETH gained 5.27% to $2,136.90, outperforming the broader market.
Brazil's B3 exchange is going big on prediction markets. Starting April 27, ultra-rich investors can bet on bitcoin, dollar, and Ibovespa index outcomes through six new event contracts.
Each contract costs up to 100 reals ($19) and reflects the market's probability estimate. No asset delivery—just cash settlement. Only certified pros with 10M+ reals can trade.
This puts B3 in direct competition with Polymarket and Kalshi, while entering a booming $160B global prediction market. Brazil's regulatory future for these products remains unclear, but B3 is betting early.
# Brazil's B3 Exchange Launches Bitcoin-Linked Event Contracts for Ultra-Rich
B3, Brazil's main stock exchange, is launching six new event contracts on April 27 that let professional investors bet on bitcoin price movements and other outcomes. These regulated prediction market instruments operate like crypto price prediction platforms, with prices up to 100 reals ($19) reflecting the market's estimated probability of an event occurring.
The contracts cover bitcoin, the Ibovespa index, and the U.S. dollar, with cash settlement instead of asset delivery. Only investors with over 10 million reals ($1.9 million) in assets or CVM certification can trade them, making this a high-net-worth playground.
This move positions B3 as Brazil's first federally regulated prediction market, entering a space dominated by Polymarket and Kalshi globally. With prediction market volume nearing $160 billion and 3 million+ users worldwide, B3's entry could legitimize the sector in Brazil while offering institutional-grade bitcoin exposure through event contracts rather than direct crypto trading.
$XRP is stuck near $1.34 even as supply tightens. Large token outflows from exchanges usually push prices higher, but XRP isn't moving yet. This mismatch often leads to a sharp breakout — up or down.
Exchanges saw 7.03 billion XRP leave in February, cutting available supply. Binance's scarcity indicator hit 0.59, the highest since 2024. Volume jumped 29% above average, but price stayed range-bound, testing $1.33-$1.34 without breaking through.
Buyers defended dips near $1.31, keeping higher lows intact. Still, resistance is capping every rally. This compression usually resolves with a strong move. Traders should watch $1.34-$1.35 for a breakout toward $1.42 or a drop back to $1.31-$1.32 if sellers regain control.
Bitcoin ($BTC) is climbing again, now at $67,762 after Iran’s president hinted at ending the conflict with security guarantees. This news is calming nerves across markets — U.S. stocks are surging too, with the Nasdaq up 3.1%, while oil prices slide from $105 to $102 per barrel.
When geopolitical tension eases, risk assets like Bitcoin and tech stocks tend to rally as investors feel more confident. The drop in oil prices also reduces inflation fears, which can support risk-on sentiment. If this diplomatic shift holds, we could see even more upside for crypto and equities in the short term.
For traders, this is a key moment — watch for confirmation of peace talks and monitor oil prices for further clues. A stable energy market could mean smoother sailing for risk assets in the days ahead.
Bitcoin is climbing again, and this time it’s riding the same wave as U.S. stocks. Iran’s president reportedly said the country is open to ending the conflict if it gets security guarantees, and markets are reacting fast. $BTC jumped nearly 2% to $67,762, while the Nasdaq surged 3.1% on the same news.
Oil prices took a hit, sliding from just under $105 a barrel to $102. That drop hints at easing fears over supply disruptions, which could help keep inflation in check. If tensions really cool, risk assets like crypto could see even more upside.
This isn’t just about crypto—it’s about global sentiment shifting toward stability. A diplomatic off-ramp could mean smoother markets ahead, and that’s good news for traders watching for the next leg up.
Hong Kong missed its own March deadline for HKD stablecoin licenses, with no approvals issued yet by the HKMA. The city had positioned itself as a regulated hub for tokenized finance, but the rollout is now pushed into April. This delay raises doubts about how quickly the framework can shift from policy to real-world implementation.
HSBC and a Standard Chartered-Animoca joint venture were expected to be among the first recipients. Both are note-issuing banks, tying the stablecoin regime directly to Hong Kong’s existing monetary infrastructure. The HKMA is still reviewing applications, but no timeline for approvals has been given.
For traders, this means no HKD stablecoin activity in the near term, limiting on-chain dollar-pegged liquidity in the region. If approvals finally land, it could open new yield and trading flows, but until then, the regulatory roadmap remains stalled.
Jack Dorsey is betting big on AI to replace middle managers after Block's 4,000 job cuts. In a new essay with Sequoia's Roelof Botha, Dorsey argues that AI can now handle the coordination work traditionally done by managers—routing information, aggregating context, and maintaining alignment across teams.
Instead of management layers, Block plans to run on two AI-driven "world models"—one for internal operations and one for customer behavior. These feed into an "intelligence layer" that dynamically assembles financial products. The org structure shrinks to three roles: individual contributors, directly responsible individuals, and player-coaches.
Dorsey says the shift was triggered by recent AI advances like Anthropic's Opus 4.6 and OpenAI's Codex 5.3. But current and former Block employees push back, noting that 95% of AI-generated code still needs human fixes—especially in regulated areas like banking.
For the market, this signals a broader trend: tech giants doubling down on AI-driven efficiency, even at the cost of headcount. If Dorsey's bet pays off, expect more companies to follow suit—reshaping not just workflows, but entire corporate hierarchies.
Bitcoin ($BTC) is climbing again — this time riding a wave of risk-on sentiment after reports that Iran’s President Masoud Pezeshkian is open to ending the conflict with security guarantees.
That’s a big deal for markets. Oil prices dropped sharply, easing inflation fears, and U.S. stocks jumped — with the Nasdaq up over 3%. Bitcoin followed suit, up nearly 2% to $67,762, showing it’s still moving in sync with broader risk assets when global tensions ease.
If the Iran situation cools further, expect more upside for risk assets, including crypto. But keep an eye on oil — if prices stabilize, that could give Bitcoin and stocks more room to run.
Charles Hoskinson just dropped a major warning on the CLARITY Act — and it's not good for the future of crypto in the US. The Cardano founder says the bill is a regulatory trap that could take 15 years to implement, favor big coins like $ADA, $ETH, and $XRP, and crush new projects before they even start.
He's not wrong. The bill treats new crypto projects as securities by default, and there's no clear path to graduation. That means fresh ideas get locked out while the big names dominate. It's a system built for incumbents, not innovation.
Hoskinson also warned that the law could be "weaponized" by future administrations — especially if Democrats take back power in 2029. And let's be real, after FTX's collapse, Democrats have gone from crypto-curious to crypto-hostile. That political shift killed bipartisan momentum and turned crypto into a partisan battlefield.
The real kicker? US lawmakers are building domestic rules for a global industry without syncing up with MiCA, Singapore, Japan, or the UAE. That could leave US projects stranded while the rest of the world moves forward.
Bottom line: If this bill passes, expect slower innovation, more regulatory friction, and a tougher road for new crypto projects. Traders should watch how this plays out — it could reshape the entire US crypto market. , ,
Bitcoin's old peaks aren't untouchable anymore, and the days of parabolic rallies could be over
Bitcoin is trading near $70K — the same level that was once a record in 2019-2022. That's unusual. In past bear markets, $BTC never returned to previous cycle highs. This time, it has — without any extreme crash or scandal.
That tells us something: the market is maturing. The law of diminishing returns is kicking in. Each new bull run needs more capital to push prices higher. In 2013, the peak was 38x higher than 2011. By 2025, it was less than 2x the 2021 peak.
Institutional players and derivatives have changed the game. More structured trading means less wild volatility and more "TradFi-like" moves. Bitcoin is no longer just a spot-driven, buy-and-hope asset.
Old peaks often act as strong support due to anchoring bias — traders see them as reference points. If $BTC holds $70K, it could signal the bear is over. But don't expect the old 10x rallies. The next run may be slower, steadier, and more capital-intensive.
OpenFX just raised $94M to scale stablecoin-powered cross-border payments. Big names like Accel and Pantera led the round, valuing the company at $500M.
The startup helps move millions across borders using stablecoins, cutting costs and speed compared to old-school FX rails. Annual volume jumped from $4B to $45B in a year.
Founder saw the pain firsthand — long Western Union lines in Dubai made him build a better way for big business transfers. Now they serve neobanks, payroll platforms, and remittance firms.
New cash will fuel expansion into Southeast Asia and Latin America, where stablecoin adoption is booming. Currently live in the U.S., U.K., UAE, and India.
Stablecoins are becoming the backbone of global payments — and OpenFX is betting big on that future.
The Clarity Act is in Congress, but WisdomTree says it's not holding them back. They're building tokenized products right now, not waiting for new rules.
The firm sees the SEC already has the tools to regulate tokenized securities and funds. WisdomTree's head of digital assets said the firm is "all systems go" despite recent crypto volatility.
What's really moving the needle? Their tokenized money market fund. It trades continuously thanks to special SEC relief, letting investors move between dollars, stablecoins, and the fund instantly.
This is big for institutional players. No more end-of-day settlement waits. Just blockchain-speed access to yield products.
WisdomTree wants to expand beyond money funds into tokenized ETFs and other on-chain investment products. They're bringing traditional finance to wallets, cutting out brokers.
The Clarity Act would help, but it's not blocking progress. Firms like WisdomTree are already using existing frameworks to innovate. That's a signal: the tokenization train is leaving the station, with or without new legislation.
Google just dropped a quantum bombshell that just compressed timelines for crypto security. The paper shows elliptic curve crypto protecting Bitcoin and Ethereum could be cracked with fewer than 500,000 qubits—way less than earlier estimates. That means q-day could arrive before the end of the decade, not mid-2030s.
Here's the market kicker: roughly 6.9 million $BTC—about one-third of supply—is sitting in wallets with exposed public keys. That includes Satoshi-era coins. If quantum computers break secp256k1, those coins could be drained in minutes.
Ethereum is moving fast with pq.ethereum.org and a multi-year post-quantum roadmap. Bitcoin? Still stuck in consensus gridlock. The divide is real—McKenna called it "Y2K but real," warning Bitcoin's lack of urgency could be its biggest risk.
CZ says don't panic—just upgrade. But in a decentralized world, upgrades take years. Google's self-censoring the actual quantum circuits? That's not a drill. If the world's top quantum lab is hiding the math, state actors probably already have it.
Bottom line: Bitcoin bulls need to scramble. Quantum isn't a maybe anymore—it's a when. And the clock just sped up.